Cabinet will not remove Jubelton sooner, but will drastically shrink next year

Cabinet will not remove Jubelton sooner, but will drastically shrink next year

The so-called jubelton, a tax-free donation that can be received when buying a home, will be reduced to 27,231 euros as of January 1, 2023. Currently, this amount is still 106,671 euros. The measure will expire in 2024. The House of Representatives has asked for the jubelton to be abolished from 2023, but the cabinet refuses to accept this.

Jubelton applies to anyone who buys a house between the ages of eighteen and forty. This group of Dutch people may receive a tax-free gift from someone else. This person must then pay for the house. That is currently 106,671 euros, but will drop to 27,321 euros next year.

In addition, parents have the option to donate 27,321 euros tax-free to their children. This amount can be spent freely. This option will continue to exist next year. As in previous years, a person can only receive one of the two gifts.

From January 1, 2024, the jubelton will disappear and only the tax-free donation will remain for free use. The House of Representatives had called for the jubelton to be lifted as early as 2023, but according to the cabinet, this was not possible for technical reasons. A reduction was possible.

According to the cabinet, reducing the jubelton, which currently amounts to no more than one ton, would generate tax revenues of 7 million euros per year.

Source: NU

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